Amara Raja, the Indian battery company part of Amara Raja Group, reported its revenue as ₹3,272.47 crore ($376 million) and a net profit after tax (NPAT) of ₹298.37 crore ($34.3 million) in its Q3 2024 results.
This is a 7.4% increase in revenue from ₹3,044.59 crore ($350 million) for the same quarter in the last fiscal year, and an 11.3% increase of NPAT to ₹267.89 crore or $30.8 million.
Earnings per share (EPS) were ₹16.30 ($1.88).
Amara Raja Energy & Mobility, founded in 1985, manufactures lead-acid batteries for industrial and automotive purposes and the Indian battery storage industry. It claims to export these products to 60+ countries across the globe.
The company supplies major telecom service providers, telecom equipment manufacturers, UPS sector, Indian railways and to power, oil and gas alongside other industry segments.
It also manufactures lithium-ion cells, battery packs and charging solutions for light electric vehicles and the telecom industry, it said.
Bajaj Broking, Indian analyst and broker, said: “The company’s performance was driven by strong growth in the lead-acid batteries and allied products segment, which contributed ₹3,154.82 crore ($363 million) in revenue. However, overall profitability was impacted by an exceptional loss from an insurance claim adjustment.”
